Why does it feel as if people in this reddit dont even consider the possibility of Bitcoin failing?

The more i read in this reddit the more i fail to understand the thinking-process.

– when bitcoin is dropping its just another chance to buy cheap

– when bitcoin is high its just a step away from going even higher with no limit

– no matter what happens bitcoin will recover and reach a new all time high

Do many people in this sub seriously not even consider the possibility of bitcoin failing or am i missing something? Reading some of the "tips" in this reddit it would be logical to buy stocks of companies failing since they will be high again at some point in the future without a doubt? Invest when others ara afraid and sell when others are certain – or something like this – so the best investment is a nearly bancrupt company?

Many people argue the value of bitcoin-technology or how its a value storage or how its gonna revolutionize banking/contracts/money etc. but looking trough this forums and talking to people in RL all i see is people investing into bitcoins for fast financial gain – not because they care or even believe in the technology – obviously people have to pretend to be positive since their own money is on the line …

Looking at Bitcoin today – isnt this actually the worst thing that could have happened to Bitcoin? The loss of trust? People argued Bictoin would be decoupled – to some extent – from inflation, recession etc. but in reality it has been hit as hard/harder than other forms of investment. Bitcoin technology in general still has no real use even after 10+ years and to be hoenst most ideas from my point of view simply arent useful (smart contracts, transactions etc.) – simply because its either not as easy as people imagine (smart contracts etc.) or because there are better solutions already and its not worth it in many cases. Bitcoin also has a huge environmental problem that could give the edge to some new competitior and last but not least in reality if bitcoin would become to big chances are big countries would start to regulate it heavily or even prohibit it.

So from my point of view there is a real possibility that Bitcoin will go to almost zero and never recover if enough people lose trust in Bitcoin. Maybe im pessimistic but to me it seems absurd reading threads where people pretend that Bitcoin will never loose its value and will always recover and become even more valuable.

Last but not least – people always talk about power to the indidivudal etc. but in reality isnt bitcoin even more controlled by people with lots of moeny simply because it has way less regulations?

submitted by /u/Eleektros
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